South Ocean Holdings Ltd (SOH): interim results expected to be released by the beginning of August. Share Price: 80c NAV: 348cps HEPS: 21cps EPS: -77.7cps "The main reason for the decrease in earnings is an impairment charge amounting to R148,1 million (2012: R175,0 million) against the goodwill, which arose through the acquisition of Radiant Group Proprietary Limited in 2007. The balance of the goodwill was impaired during the year, as approved by the Directors, based on current and future market conditions affecting the earnings of Radiant. Steps have been implemented by management to improve the profitability of this segment which should materialise during the next few years. Prospects The market conditions will remain challenging during the 2014 financial year, however the results are expected to show a significant improvement compared to the 2013 financial year. Management are in the process of refocusing the lighting and electrical accessories segment and regaining lost market share. Cost control and improving working capital will continue to be a focal point during the year, leveraging on operational efficiencies and capitalising on existing marketing opportunities. The Group has submitted a number of tenders to Parastatals (Government, Eskom) since the previous period, which has not yet been awarded. Any successful tenders will increase revenues." - from 2013 results They look interesting with results coming up soon(maybe a trading statement reflecting improvement in earnings as hinted that may occur) Any comments?
